J. Safra Sarasin Holding AG Boosts Holdings in Cintas Co. (NASDAQ:CTAS)

J. Safra Sarasin Holding AG raised its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 196.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,365 shares of the business services provider's stock after purchasing an additional 11,507 shares during the period. J. Safra Sarasin Holding AG's holdings in Cintas were worth $3,173,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Guardian Wealth Advisors LLC lifted its position in Cintas by 3.1% during the fourth quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider's stock valued at $318,000 after purchasing an additional 52 shares during the period. MGB Wealth Management LLC lifted its stake in shares of Cintas by 0.7% during the 4th quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider's stock valued at $1,328,000 after buying an additional 52 shares in the last quarter. TIAA Trust National Association boosted its stake in shares of Cintas by 1.0% in the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider's stock worth $983,000 after acquiring an additional 52 shares during the period. Wellspring Financial Advisors LLC boosted its stake in Cintas by 4.6% in the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock worth $214,000 after purchasing an additional 52 shares during the period. Finally, Aaron Wealth Advisors LLC boosted its position in shares of Cintas by 2.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider's stock worth $512,000 after acquiring an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction on Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the sale, the director now owns 27,029 shares of the company's stock, valued at approximately $5,647,979.84. This trade represents a 23.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jim Rozakis sold 2,000 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer now directly owns 256,528 shares of the company's stock, valued at $48,835,235.36. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

CTAS has been the subject of several research analyst reports. Citigroup started coverage on Cintas in a report on Monday, February 24th. They set a "sell" rating and a $161.00 price target for the company. The Goldman Sachs Group increased their price objective on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Bank of America began coverage on Cintas in a research report on Thursday, April 10th. They set a "buy" rating and a $250.00 target price for the company. Wells Fargo & Company boosted their price target on Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a report on Thursday, March 27th. Finally, Argus upgraded shares of Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $213.62.

Cintas Stock Performance

Shares of NASDAQ:CTAS traded down $1.35 on Friday, hitting $208.40. 1,172,829 shares of the company were exchanged, compared to its average volume of 1,697,375. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock's 50 day moving average price is $201.61 and its 200 day moving average price is $204.32. The firm has a market capitalization of $84.15 billion, a P/E ratio of 50.25, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20. Cintas Co. has a 1-year low of $162.16 and a 1-year high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.84 EPS. Sell-side analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. Cintas's payout ratio is 36.11%.

Cintas Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.